We’re here to support you
through Coronavirus.

Support with your mortgage, if you have concerns about your finances.

We understand you may be worried about the impact of coronavirus (COVID-19) and we want to reassure you that we are here to help you with any financial concerns you may have.

If you've been financially impacted by COVID-19 and this is affecting your ability to meet your monthly mortgage payment, then you can request a repayment holiday. You can defer some or all of your monthly mortgage payments, up to six months in total, in periods of up to three months at a time. The application deadline is 31 March 2021 and all repayment holidays must end by 31 July 2021. After 31 March 2021, you can extend an existing repayment holiday until the 31 July 2021 as long as your request doesn’t go over the six month limit and there are no breaks in the repayment holiday.

This is available to all customers including those in arrears. If you can maintain your mortgage payments, you should continue to do so as this will be in your best interests longer term. Find out how to apply for a Mortgage Repayment Holiday and whether you’re eligible.

If you continue to be impacted by COVID-19 and have already taken a payment deferral for six months, we’re still here to help. Please complete an income and expenditure form and we’ll get back to you within five working days. Alternatively, you can call us on 0345 835 3374. We’re here from 8am – 7.30pm Monday to Friday (except bank holidays) and 8am – 12.30pm on Saturdays.

If you take a repayment holiday you will pay more interest overall. It is important that if you can afford to make repayments, you continue to do so. We do not report any payments deferred by your repayment holiday to the credit reference agencies as being missed payments. If your account is up to date, it will continue to be reported as being up to date with payments for the duration of your repayment holiday. If your account is currently in arrears please note that the existing arrears will continue to be reported but will not reflect any deterioration due to the payment holiday. The balance reported will increase in line with the accrued interest in either case. Other factors including any existing arrears may affect your credit file or your ability to obtain credit.

Fixed Rate Bonds

Impacted customers holding Fixed Rate Bonds can close their accounts to gain early access to their money. Customers will also be able to access savings in Fixed Rate Cash ISAs and the early withdrawal charge will not apply during this period.  Please note, that if you do withdraw from your Fixed Rate ISA, you will lose the tax-free benefit on this amount.   

Credit card repayment holiday

If you’ve already had a credit card repayment holiday and continue to be impacted by Covid-19, please visit www.tsb.co.uk/cardsfurtherhelp.

If you’ve not had a repayment holiday before:

• You need to be up to date with your credit card repayments or have missed no more than one payment.
• The account should be held in your name.
• You must not be in the process of making a credit card protection insurance claim.
• If we have written to you about Persistent Debt you are still able to request a repayment holiday.
• If you have missed more than one payment to your credit card you will not be automatically eligible for a repayment holiday, please contact us on 0345 600 8972 to speak to one of our Partners.

We pride ourselves on being a responsible lender

Repayment holidays are only temporary and not intended to help solve longer term money troubles, so if you’re struggling to make your monthly repayments, please get in contact with us. We have a range of options that may be able to help you.

Important information to think about before you request a repayment holiday

If you pay interest on your credit card

• Your balance at the end of a 3-month repayment holiday will have increased from £5,000 to £5,286.
• Your minimum monthly payment will have increased from £144 to £152.

• Interest will continue to accrue on your balance, and you'll pay more interest overall because your balance will be higher
• At the end of the holiday, the minimum payment will be higher than you would normally see as interest will continue to be charged on your balance. It will also be higher if you spend on your card during the repayment holiday.
• If you find you can make any payments to your card during this time, please do so because this will help reduce the extra interest you'll have to pay. Making any payments will not affect the rest of your repayment holiday term.

Illustrations of the potential increase in balances and minimum payments as a result of a 3-month credit card repayment holiday

1. A credit card balance of £5,000 with an interest rate of 24.95%, assuming no spend*

• Your balance at the end of a 3-month repayment holiday will have increased from £5,000 to £5,286.
• Your minimum monthly payment will have increased from £144 to £152.

2. A credit card balance of £15,000 with an interest rate of 29.95%, assuming no spend*

• Your balance at the end of a 3-month repayment holiday will have increased from £15,000 to £16,015.
• Your minimum monthly payment will have increased from £481 to £514.

3. A credit card balance of £5,000 with an interest rate of 24.95%, assuming a monthly spend of £200 on the card*

• Your balance at the end of a 3-month repayment holiday will have increased from £5,000 to £5,909.
• Your minimum monthly payment will have increased from £147 to £174.

*Please note that we strongly recommend that you do not spend on you card unless absolutely necessary during the repayment holiday as this will increase the length of time it will take you to repay your balance.

How the repayment holiday works

• Taking a repayment holiday at this time will not be reported as a missed payment on your credit file. However, please note that other factors may affect your credit file or your ability to obtain credit.
• You can continue spending on your card, up to your credit limit. If you go over your credit limit, you will be charged £12 which will be added to your credit card balance and this will have a negative impact on your credit record.
• Deferring your payments in this way will mean that it may take longer to repay your credit card balance.
• If your request for a repayment holiday is approved and you have already missed one payment to your credit card, the month in which this was due will be treated as the first month of your 3-month repayment holiday extension. This means that your account will no longer be in arrears and we'll remove the missed payment from your credit record.
• If your request for a repayment holiday is approved you do not need to cancel your Direct Debit as we will not take the payment during the repayment holiday. However, if you have a payment due within the next 7 working days and are worried that you cannot afford this payment, please cancel the Direct Debit with your current account provider. Please check with your provider whether you are able to cancel the Direct Debit, as sometimes this can’t be done if the payment date is soon, meaning it will still be taken. If you have a Direct Debit set up from a TSB current account, you would need to let us know the day before the due date of the payment. If you have set up a standing order to pay your credit card you will need to cancel it during your repayment holiday.
• At the end of the repayment holiday extension, you will need to start paying at least your minimum monthly payment again, as shown on your statement.
• If you are experiencing longer-term financial difficulties, or if you need extra help to understand how this impacts you, we are here to help, so please contact us as soon as possible.

If you’ve not had a repayment holiday before here is how to request one

You will need to complete our online form which can be found by clicking on the button below.

We will aim to complete your request within 5 to 7 working days, excluding requests made on bank holidays and at the weekend. We will email you to confirm whether your repayment holiday has been successful and when you’ll need to start making future payments again.

Check out our privacy policy at https://www.tsb.co.uk/privacy/ for information on how your data is used.

Find out how to apply for a Credit Card Repayment Holiday

Cash machine withdrawals

Personal current account customers can now withdraw up to £500 from UK cash machines.

Apply for an Arranged Overdraft

Customers may apply for an Arranged Overdraft, or an increase to their Arranged Overdraft limit to provide short term relief on their outgoings. Overdrafts are subject to approval. The quickest and easiest way to apply is via Internet Banking.

Are you facing temporary difficulties with your finances?

We appreciate that this may be a difficult time. If you are in or at risk of financial difficultly because of impacts of coronavirus, we’re here to help.

If you have any concerns about managing your overdraft and would like to discuss it just call us on 03459 758 758, we’re open between 8am – 8pm Monday to Sunday. If guidelines allow you to visit a branch, you can also book an appointment at your local TSB branch. We will be happy to help.

The travel insurance claims line is currently experiencing high call volumes. To allow us to prioritise customers, we are asking you to only call if you were due to travel within the next 7 days. Before making a claim, please ensure you have contacted your travel and accommodation provider to discuss a refund, as travel insurance only provides cover for your non-refundable costs.

Find out about our travel insurance and coronavirus (COVID-19) advice for travellers with a TSB Added Value Account.

If you've been financially impacted by COVID-19 and this is affecting your ability to meet your monthly loan repayments, we’re here to help.

You could apply for a repayment holiday to provide short term relief. Repayment holidays are subject to approval and it’s important to remember that your repayments will be deferred so you’ll pay more interest overall. It is important that if you can continue to make repayments, you continue to do so.

Standard one month repayment holiday:

You can request a one-month repayment holiday up to twice a year. These can’t be taken consecutively and you must be up to date with your repayments.

How to apply: The quickest and easiest way is via Internet Banking. Where you can check your eligibility and receive an instant decision. If you don’t have access to Internet Banking, you can also call us on 0345 835 3861.

COVID-19 extended repayment holiday:

Specifically to support with any financial relief during the current COVID-19 pandemic. This option is available to customers that are both up to date with their repayments or have missed no more than one repayment. And have not already taken 6 months repayment holidays in the last 12 months.

• Apply for an initial three month repayment holiday: If you haven’t taken a three-month extended repayment holiday before, you can request one by completing the Loan repayment holiday request form. We will then provide you with a decision within 2 working days.
• Apply for a second three-month repayment holiday: If you have already taken one three-month extended repayment holiday, please visit tsb.co.uk/loansfurtherhelp and complete the form so we can provide you with the right support.

Taking a payment holiday at this time will not be reported as missed payments for your credit file. However, please be aware that other factors may affect your credit file or your ability to obtain credit.

Already taken six months of repayment holidays?

If you’ve already taken a total of 6 repayment holidays in the last 12 months please visit tsb.co.uk/help-and-support/managing-debt and complete the ‘income and expenditure form for sole account holders’. We’ll then call you within five working days to discuss your payment options and any further support we can provide you with.

We understand that our customers may be worried about the impact of coronavirus (COVID-19) and want to reassure you that we’re here to help you with any financial concerns you may have.

1. Payment holiday

• If you are struggling financially and need help, then you may be able to defer your monthly home insurance payment. This can be applied for 1 month at a time, for up to 3 months.
   

2. Amending your level of cover